Jul 17, 2024Despite challenges, Blue Diamond reports strong almond shipments
Blue Diamond announced its June almond shipments totaled 206.2 million pounds, a 9% decrease from the previous month but a 10.5% increase compared to June 2023. Domestic shipments rose 2% to 62 million pounds, while exports increased by 15% to 144.1 million pounds.
The year-to-date shipment increase stands at 5.7%, putting the industry on track to ship over 2.7 billion pounds by the end of the crop year, with a projected carryout of approximately 485 million pounds.
India saw a significant 74% rise in shipments, reaching 26.9 million pounds for June. Conversely, shipments to China/Hong Kong/Vietnam dropped 52% to 5.5 million pounds. Shipments to Europe decreased by 11% to 43.5 million pounds, while the Middle East experienced a 145% increase to 31.3 million pounds.
“Following three years of declining shipments, we expect July to solidify year-over-year growth,” said Laura Gerhard, vice president of Blue Diamond.
The USDA’s Objective Estimate for the 2024 crop is 2.8 billion pounds, 7% lower than the Subjective Estimate. Recent heatwaves in California have raised concerns about the maturing crop, particularly regarding the hull split stage and potential insect damage.
For more information, view Blue Diamond’s Market Updates.
